IDS Calls Osborne Pinocchio Over Brexit Claim

Iain Duncan Smith has likened his former Cabinet colleague George Osborne to Pinocchio after the Chancellor claimed house prices will slump if the UK leaves the European Union. A Treasury report on the short-term impact of Brexit, due for publication next week, predicts people's homes would lose between 10% and 18% of their value by 2018. But the former work and pensions secretary, who is campaigning for the UK to leave the EU, said forecasts by the Treasury have often been wrong.